The Florida Prepaid College Plan is the largest of its kind in the country. Parents have the option of signing up to one of a number of plans that allow them to make payments as their child grows up. By the time college comes around, the Florida Prepaid account should have enough funds to be able to pay for costs allowed by the particular plan. Those funds can be used at any participating college or university, most of which are in Florida, but some of which are out of state.
Multiple prepaid plans are offered in Florida. The first is for 120 credits at any four-year state university. There is also a less expensive plan that covers 120 credits at any state community college. These 120 credits are enough to receive a bachelor of arts degree. Some students prefer to spend two years in a community college before finishing their final two years at a state university, and a plan is available for that as well. In addition, there is a prepaid plan for 60 credits at a community college, leading to an associate in arts degree. In addition to tuition payment plans, a prepaid dorm plan can be taken out to supplement the investment plan. This can be used to purchase college-related items such as textbooks.
As of March 2011, there are 11 state universities associated with Florida Prepaid plans. These include the University of Central Florida in Orlando; the University of Florida in Gainesville; Florida State University in Tallahassee; New College of Florida in Sarasota; Florida International University in Miami; and the University of West Florida in Pensacola. These universities cover all areas of the state. In addition, there are 28 affiliated community colleges, including Florida Keys Community College and Miami Dade College.
Students with a Florida Prepaid plan are not required to attend a state school or community college to receive benefits. They can also attend a private university or even an out-of-state one. Those approved change from time to time and should be researched ahead of time with the Department of Education. In addition, prepaid benefits can be used at a number of Florida technical schools. These include Baker Aviation School, Winter Park Tech and Ridge Career Center.